Where small business is our business.

 Money taken directly from business profits. Not a salary — you pay tax on the business’s net income, not on the draw itself. 

 A regular payroll salary paid to yourself as an employee of your corporation. Subject to CPP, income tax withholding, and payroll reporting. 

 Payments from corporate after‑tax profits. Taxed personally at a lower rate than salary and no CPP contributions. 

 A common strategy to balance tax efficiency, CPP contributions, and RRSP room creation. 

 Payments from the corporation to you for management services. Still taxable personally, but structured differently than payroll. 

 A lump‑sum salary payment, often used at year‑end to reduce corporate taxable income. 

 Not income — but owners can reimburse themselves for legitimate business expenses paid personally. 

 If you previously loaned money to the corporation, the corporation can repay you tax‑free. 

 protects a business financially if a crucial owner or employee can no longer work. It provides a payout that helps the company stay stable, replace expertise, and keep operations moving forward. 

 Provides the funding needed to carry out a buy/sell agreement if an owner dies or becomes disabled. It ensures the remaining owners have the financial means to buy the departing owner’s share, keeping the business stable, locally owned, and moving forward without disruption.

 The corporation owns the policy and receives the benefit to cover ongoing expenses like rent, utilities, and salaries during the owner’s disability. 

 provides straightforward, affordable coverage for a set period—usually 10, 20, or 30 years. If the insured person dies during that term, it pays a tax‑free benefit to their beneficiaries, offering financial protection when it’s needed most. 

Provides permanent coverage while building cash value the corporation can access. The company owns the policy, pays the premiums, and receives the tax‑free death benefit—creating a stable asset that supports succession planning, key person protection, and long‑term financial strength. 

Provides a tax‑efficient way for a business to protect itself if a key owner or employee is diagnosed with a serious illness. The corporation owns the policy, pays the premiums, and receives the lump‑sum benefit—giving the business financial stability to manage recovery costs, replace expertise, or keep operations running during a difficult time.

Sign up for our newsletter to receive the latest news, updates, and exclusive offers from Artworks Wealth Management. Don't miss out on your chance to explore the world with us.

 Group benefits are employer-sponsored insurance and wellness plans that provide health, dental, and financial protection to employees and their families. They pool risk across a group of employees, making coverage more affordable, easier to qualify for, and more comprehensive than buying insurance individually. 

 An operating company is the active, day‑to‑day business. It sells products or services, earns revenue, hires staff, manages clients, and carries out all commercial activity. It’s the entity “doing the work” and generating cash flow. 

 A holding company owns assets, typically shares of operating companies, real estate, or investments, but doesn’t run daily operations. Its purpose is to protect assets, centralize ownership, reduce risk, and create tax‑efficient structures. It “holds” value while the operating company “operates” the business.